Things are slowly but surely picking up at the state Capitol. Committees are meeting regularly, and bills are making their way through initial votes. More than 185 bills have been introduced so far – and the Children’s Campaign is proud to have one of our priority bills among them.
House Bill 23-1091 renews the much-needed Child Care Contribution Tax Credit (CCTC). More than 20,000 people across the state support child care organizations through donations, providing $60 million in private financial support for critical child care programs each year. These investments supplement public sector funding and alleviate some of the financial stress experienced by these programs by supporting child care capacity and development. Child care providers rely on the donations incentivized by the CCTC to fund their core programs, increase quality, increase wages, and improve access to care for families.
The child care sector is struggling to make ends meet. Without this tax credit, we fear that many providers would have to reduce their class sizes or even close their doors, with severe implications for families. HB23-1091 will ensure that this credit continues to serve child care providers and families throughout Colorado.
HB12-1091 is up for its first vote on Feb. 2 in the House Finance Committee. Our Director of Early Childhood Initiatives, Melissa Mares, will testify at the committee on the importance of the tax credit and why it needs to be renewed. We are grateful to Reps. Pugliese and Kipp for championing this bill, and we are excited to support this legislation in the coming months!
